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DRILL BABY DRILL!

By iwog   2012 Nov 8, 5:08am   1 link   488 views   2 comments   watch (0)   quote      

(because oil corporations want to suck up what we have left and sell it to foreigners)

One of the bigger lies coming from the Republicans is that all we need to do to become oil independent is to open up domestic sources of oil.

When you leave fantasy land and examine the real world, you learn that increased oil production simply means increased exports overseas at the expense of our national oil endowment. Corporations will gladly make Americans suffer to earn a few extra pennies on a barrel of crude.

Another completely failed policy brought to you by the Republican party.

http://blogs.wsj.com/economics/2012/11/08/american-oil-boom-shrinks-trade-deficit/

The U.S. trade gap narrowed by $2.3 billion in September, to $41.5 billion, the Commerce Department said Thursday. Oil accounted for more than three quarters of the change, with a $2.2 billion surge in oil exports easily offsetting a small increase in imports.

#politics

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1   Bellingham Bill   72/72 = 100% civil   2012 Nov 8, 6:04am  ↑ like   ↓ dislike   quote    

One thing is, people want our gasoline, so if we can ship them that that might help our trade imbalance.

(Refineries are pretty weird in that they can get more product out of a barrel than they put in . . . "refinery gain" or somesuch)

I have no problem with the drilling per se, I just don't like how the money seems to end up with the Kochs, since that oil (in the ground) shouldn't really be owned by anyone, unless they put it there in the first place.

2   edvard2     2012 Nov 8, 6:42am  ↑ like   ↓ dislike   quote    

Here's the problem with assuming that drilling more and more means cheaper and cheaper gas prices: Oil is an internationally traded resource extracted, processed, and sold by international oil companies. The price is set by global demand. For example Canada actually produces more oil than their population could ever possibly use. The result? Their prices are about the same as us. So much for drilling more and more...

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